Log In/Sign Up
Your email has been sent.
711 21st Ave
Seattle, WA 98122
Central District 6 · Multifamily Property For Sale
·
6 Units
INVESTMENT HIGHLIGHTS
- 6-Unit on 7,200 SF Lot in Seattle's Cherry Hill Neighborhood
- Six Surface Parking Stalls
- Major Renovations with Updates and Rebuild
- All Units have Private, Direct Entries
- 20% Rental Upside with Value-Add Opportunities
EXECUTIVE SUMMARY
Rare Central District 6-Unit w/ Upside + LR2 Rezone Potential
Exciting opportunity to own a well-located 6-unit in one of Seattle’s most dynamic neighborhoods. Sits on a 7,200 SF lot with proposed LR2 zoning, offering solid in-place income plus redevelopment potential. Mix of 2-, 3-, and rare 4-bedroom layouts. Major 2018 updates include rebuilt units, PEX plumbing, new electrical panels, vinyl siding/windows, and torchdown roof. Boost income with cosmetic upgrades, RUBS, and parking fees, pro forma cap rate of 8.1%+. Shared outdoor patio and surface parking add tenant appeal. Block to future light rail, Seattle U, and Swedish Cherry Hill. Professionally managed and maintained, a rare blend of income, location, and future flexibility.
Exciting opportunity to own a well-located 6-unit in one of Seattle’s most dynamic neighborhoods. Sits on a 7,200 SF lot with proposed LR2 zoning, offering solid in-place income plus redevelopment potential. Mix of 2-, 3-, and rare 4-bedroom layouts. Major 2018 updates include rebuilt units, PEX plumbing, new electrical panels, vinyl siding/windows, and torchdown roof. Boost income with cosmetic upgrades, RUBS, and parking fees, pro forma cap rate of 8.1%+. Shared outdoor patio and surface parking add tenant appeal. Block to future light rail, Seattle U, and Swedish Cherry Hill. Professionally managed and maintained, a rare blend of income, location, and future flexibility.
PROPERTY FACTS Under Contract
| Price Per Unit | $332,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.80% | Building Size | 5,835 SF |
| Gross Rent Multiplier | 11.01 | Average Occupancy | 94% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 1.03/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | NR3 | ||
| Price Per Unit | $332,500 |
| Sale Type | Investment |
| Cap Rate | 5.80% |
| Gross Rent Multiplier | 11.01 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 5,835 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built | 1900 |
| Parking Ratio | 1.03/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | NR3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Oven
- Tub/Shower
- Pantry
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 1 | $1,700 | 835 |
| 3+1 | 2 | $2,400 | 915 - 1,020 |
| 3+2 | 2 | $2,775 | 955 - 1,115 |
| 4+1 | 1 | $3,050 | 995 |
PROPERTY TAXES
| Parcel Number | 912610-0265 | Improvements Assessment | $1,082,600 |
| Land Assessment | $878,400 | Total Assessment | $1,961,000 |
PROPERTY TAXES
Parcel Number
912610-0265
Land Assessment
$878,400
Improvements Assessment
$1,082,600
Total Assessment
$1,961,000
1 of 15
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
